Euro zone: debt auctions show lower yields

Greece: 3-month T-bills – yields down from 4.05% to 4.02%;

Spain: 6-month bills – yields down from 0.530% to 0.492%; 12-month bills – yields down from 1.235% to 0.994%.

Yields on the benchmark 10-year Spanish paper topped 5% at the start of the year, but hit a low of 4.034% in early May. Greek 10-year bond yields dropped below 10 per cent last week, their lowest level in months.